Receiving

Calgary-based Paramount Energy Trust (PET) has begun receiving royalty adjustments on 23 MMcf/d of natural gas shut in or denied production as a result of the bitumen decision by the Alberta Energy and Utilities Board (AEUB) last year (see NGI, Oct. 18, 2004).

Northwest declared a Stage III entitlement with 13% tolerance for overruns for receiving parties located north of the Kemmerer (WY) Compressor Station, effective Friday until further notice. The pipeline noted that weather in its market area “is extremely cold and predicted to remain cold over the next week” and that due to extreme drafting its Jackson Prairie storage account had dropped from 2.5 Bcf to 1.7 Bcf, “even with the assistance of a few customers realigning their supplies.”

Calgary-based Paramount Energy Trust (PET) has begun receiving royalty adjustments on 23 MMcf/d of natural gas shut in or denied production as a result of the bitumen decision by the Alberta Energy and Utilities Board (AEUB) last year (see Daily GPI, Oct. 15, 2004).

ChevronTexaco Corp., which wants to build an offshore liquefied natural gas (LNG) receiving and regasification terminal about eight miles off the coast of Baja California, Mexico, last week gained approval for the project from Semarnat, Mexico’s environmental agency. The oil major still needs approval from other Mexican regulatory officials, including the Comision Reguladora de Energia, before construction may begin.

ChevronTexaco Corp., which is proposing to build an offshore liquefied natural gas (LNG) receiving and regasification terminal about eight miles off the coast of Baja California, Mexico, has gained approval for the project from Semarnat, Mexico’s environmental agency. The oil major still needs approval from other Mexican regulatory officials, including the Comision Reguladora de Energia, before construction may begin.

Despite receiving a somewhat bullish natural gas storage report from the Energy Information Administration (EIA), the July natural gas futures contract was no match for bearish news from the Organization of Petroleum Exporting Countries (OPEC), which helped move both natural gas and crude futures lower for a second consecutive day.

Apparently not wanting to try to build an energy complex against the wishes of the local community, San Jose, CA-based Calpine Corp. announced late Wednesday it was dropping its plans for developing a liquefied natural gas (LNG) terminal and other facilities in the far northern end of California in Humboldt Bay. Calpine did not say so, but it is assumed the Eureka City Council turned down the energy developer’s request for an exclusive right to assess a site on part of a little used airport.

The construction of liquefied natural gas (LNG) receiving terminals has been and will continue to be environmentally-constrained, making potential U.S. consumers an insignificant blip in the world natural gas market, according to an article written by Leonardo Maugeri, an executive with the Italian oil company Eni SpA, which appeared in the Wall Street Journal Online Monday.

The Millennium Pipeline project is off life support after receiving the equivalent of heart bypass surgery. A new precedent agreement with the Northeast’s largest gas distribution company, KeySpan, and an alternative upstream link to supply through the Empire State Pipeline system have breathed new life into the project, according to its sponsors.